All jobs axed as two Scottish engineering firms plunge into administration – The Scottish Sun
All jobs axed as two Scottish engineering firms plunge into administration The Scottish Sun Read the original article here
Tiny home builder’s creditors won’t see a cent of $600k they’re owed – liquidator – Stuff
Tiny home builder’s creditors won’t see a cent of $600k they’re owed – liquidator Stuff Read the original article here
Australia’s Carbon Revolution exits administration
Carbon Revolution has exited administration less than two months after its financial struggles caught up to it, giving the carbon-fibre wheel manufacturer a path forward. In March, Carbon Revolution – which supplies carbon-fibre wheels to the likes of Ferrari, Lamborghini, Chevrolet and Ford – announced it would enter voluntary administration, citing a desire to get…
Fears rise of phoenixing could cost taxpayers in the East
The practice, known as phoenixing, is where companies are placed into insolvency but the business and its assets are transferred over to a new, identical company, leaving creditors unpaid. This includes suppliers, customers and HMRC, which lost £836 million to small‑business phoenixing in the 2022-23 tax year, the latest year for which data is available.…
Supreme Court Examines ‘Hallucinated Citations’ By NCLT & NCLAT In Essel Infraprojects Insolvency Case – BW Legal World
Supreme Court Examines ‘Hallucinated Citations’ By NCLT & NCLAT In Essel Infraprojects Insolvency Case BW Legal World Read the original article here
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Gold Coast travel brand Kooshy Kids collapses into liquidation
An Aussie mum has redirected customers to a “dupe” of her own failed travel business while owing thousands to creditors and facing liquidation. Australian travel accessories business Kooshy Kids was ordered into liquidation in the Supreme Court last week after Ireland-based lenders Wayflyer Finance successfully applied to wind up the company. The Gold Coast-based company…
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